894,374 Shares in Absci Corporation $ABSI Acquired by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC bought a new position in shares of Absci Corporation (NASDAQ:ABSI) in the second quarter, Holdings Channel reports. The fund bought 894,374 shares of the company’s stock, valued at approximately $10,366,000.

Several other hedge funds have also recently added to or reduced their stakes in ABSI. Quarry LP bought a new position in shares of Absci in the third quarter valued at $26,000. Essential Partners LLC boosted its stake in shares of Absci by 113,850.0% during the 1st quarter. Essential Partners LLC now owns 9,116 shares of the company’s stock worth $27,000 after acquiring an additional 9,108 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Absci by 91.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,287 shares of the company’s stock worth $29,000 after acquiring an additional 5,385 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Absci by 45.9% in the 2nd quarter. Legal & General Group Plc now owns 11,690 shares of the company’s stock worth $30,000 after acquiring an additional 3,678 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Absci in the 1st quarter worth $31,000. Institutional investors and hedge funds own 52.05% of the company’s stock.

Analyst Ratings Changes

ABSI has been the subject of several analyst reports. BTIG Research reaffirmed a “buy” rating and set a $13.00 target price on shares of Absci in a report on Wednesday, August 12th. Truist Financial lifted their price target on Absci from $11.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Guggenheim boosted their price objective on Absci from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Morgan Stanley reaffirmed a “positive” rating and set a $10.00 price objective on shares of Absci in a research note on Thursday, June 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Absci in a research report on Friday, July 17th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.43.

Absci Stock Down 7.4%

Shares of NASDAQ:ABSI opened at $8.84 on Tuesday. The company’s fifty day moving average is $9.16 and its two-hundred day moving average is $5.78. The company has a market cap of $1.52 billion, a P/E ratio of -11.05 and a beta of 2.35. Absci Corporation has a 12-month low of $2.24 and a 12-month high of $12.06.

Absci (NASDAQ:ABSI) last issued its earnings results on Tuesday, August 11th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Absci had a negative return on equity of 61.71% and a negative net margin of 7,756.38%.The business had revenue of $0.32 million during the quarter, compared to analyst estimates of $0.92 million. Equities research analysts anticipate that Absci Corporation will post -0.74 earnings per share for the current year.

About Absci

Absci Corporation (NASDAQ: ABSI) is a biotechnology company that applies machine learning, synthetic biology and automation to accelerate the discovery and development of protein-based therapeutics. The company’s Integrated Drug Creation® (IDC®) platform is designed to identify and produce novel antibody and enzyme candidates at speeds and scales that traditional biopharma discovery methods cannot match. Absci works with pharmaceutical and biotechnology partners to generate, screen and optimize protein molecules for a wide range of therapeutic applications.

The core of Absci’s offering is its end-to-end discovery engine, which combines proprietary algorithms, high-throughput laboratory automation and a deep learning framework.